Private equity firms are increasingly seeking majority-control buyouts in India because economic growth - at its slowest in a decade - and a weak rupee - which fell 11 percent last year - are bringing down corporate profits and so making companies cheaper.

Indian companies, mostly family-owned, have long been averse to selling out, preferring to raise funds by borrowing from banks or going public. But a dormant capital market and high interest rates are pushing them to cut deals with PE firms instead.